Will These Mining Stocks Continue Rising In The Market?
If you’ve looked into mining stocks, you’ve probably noticed how unpredictable the market is right now. Over the previous year, the market has seen a lot of activity in mining stocks. When the economy isn’t doing well, mining stocks frequently rise in value. This is because precious metals like gold and silver become more desirable as the value of the dollar declines.
It’s easy to become perplexed while investing in mining stocks. As a result, creating an investment strategy can be quite beneficial. While there is more intricate information available, let’s stick to the fundamentals of mining company tracking. When investing in mining companies, keeping up with world events is critical. Because of the pandemic, this is especially evident in 2021. When it comes to investing in these equities, sector news is also crucial. If there is a lithium shortage, for example, it will most certainly affect lithium-related stocks. Company-specific news is also critical, as it frequently determines the direction in which a company’s stock price will move.
Mining stocks are frequently avoided by investors who believe they have no chance of making a return. However, this is untrue, as many of these assets are currently increasing in value. When it comes to investing, it is advisable to consider the volume, recent news, and global news. Let’s take a look at three mining stocks that are currently performing well in the market.
Top Mining Stocks To Watch
- McEwen Mining Inc. (NYSE: MUX)
- Sandstorm Gold Ltd. (NYSE: SAND)
- Harmony Gold Mining Company Limited (NYSE: HMY)
McEwen Mining inc. (NYSE: MUX)
McEwen Mining Inc., a mining company, saw its stock increase 1.69 percent in the market on October 14th. This is a company that looks for, develops, manufactures, and sells different types of resources. The majority of the company’s sales are made up of silver, gold, and copper. It owns 100% of the El Gallo project, the Fenix project, the Black Fox mine, and a number of other ventures. It has properties in Mexico, Canada, Argentina, and the United States, among other countries.
On October 6th, McEwen announced its consolidation production for the third quarter of 2021. The company reported 30,400 gold equivalent ounces in the same period last year, compared to 42,900 this year. McEwen was able to meet his goal thanks to the production of 32,100 ounces of gold and 792,000 ounces of silver. For the nine months ended September 30th, 2021, it produced 114,300 gold equivalent ounces, up from 85,700 in 2020.
This indicates that its output is approaching the midpoint of its yearly projection range this year. Three months ahead of schedule, McEwen completed commercial production at the Froome deposit. Will MUX be on your list of mining stocks to watch now, given this additional information?
Sandstorm Gold Ltd. (NYSE: SAND)
Sandstorm Gold is a gold royalty firm that purchases gold and other commodities from a variety of mining companies. The companies in question are developing or running mines that are at various phases of development. Sandstorm pays for gold streams or royalties upfront and has the right to buy a share of the mine’s production for the mine’s whole life.
The company declared on October 6th that it had raised its credit facility to $350 million. Sustainability-linked incentive pricing terms are included in the ESG Revolving Loan. As long as Sandstorm’s sustainability goals are met, it will be able to lower borrowing rates by up to 5 basis points.
The Chief Financial Officer of Sandstorm, Erfan Kazemi said, “We’re pleased to announce that Sandstorm is the first royalty company with a credit facility linked to sustainability goals. With this credit agreement, the Company is helping to lead a new era of corporate lending that benefits shareholders while promoting corporate responsibility.” Based on this new info, will SAND make your list of mining stocks to watch in mid-October?
Harmony Gold Mining Company Limited (NYSE: HMY)
Harmony Gold Mining Company Limited is a mining stock that is currently outperforming the market. This is a corporation that extracts gold, silver, copper, and uranium from mines and processes them. Harmony’s operations are situated in South Africa and Papua New Guinea, both of which have proven to be beneficial to the company.
Harmony has released their annual report for the fiscal year 2021, which ended on June 30th. During this time, the company’s sales increased by 45.2 percent year over year. In addition, their net debt dropped by 52% year over year.
Even if the company’s performance was excellent, it was not the main determinant of its stock price. The market price of HMY varies in lockstep with gold prices. As a result of this knowledge, will you add HMY stock to your watchlist this month?
Mining Stocks in the Future
If mining stocks continue to climb as the pandemic fades, the market will watch how the market reacts. The planet is still in a constant state of change at the present. The value of materials is rising as industrial demand and retail sales both rise. So, in mid-October, which mining stocks will you add to your portfolio?
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